The dollar index, which measures the value of the dollar against six major currencies, fell sharply on the 4th, when it fell 0.62% and closed at 96.6788 at the end of New York.
Some analysts believe that if the follow-up US dollar index fails to break 97.40, the US dollar may usher in the space for small banner consolidation. On the contrary, it will continue to decline, and may go straight to the 97 integer mark.
According to Wells Fargo, the sharp decline in the exchange rate of the RMB was a short-term result of emergencies and had nothing to do with Chinas economic fundamentals. At present, there is limited space for the depreciation of RMB to continue to fall. On the contrary, the optimistic expectation of Chinas economic fundamentals has laid a solid foundation for the subsequent stability of the RMB against the US dollar.